Molly Smitten-Downes is the most strongly-backed UK Eurovision hopeful in years (Picture: BBC)

Could the UK have its best chance of winning Eurovision in years? The answer is yes if the reaction from the bookies is anything to go by.

According to bookmakers William Hill, the odds on the nation bringing the contest back to Blighty for the first time since 1998 have dropped dramatically since this year’s entry, Molly Smitten-Downes’ Children Of The Universe, was unveiled on Monday night.

Molly’s track is now 12-1 to win the contest in Copenhagen – making it the shortest priced UK entry in years – compared to a distant 25-1 for a UK victory before it was debuted in a BBC Red Button show.

‘We have already seen more support for Molly than we have seen for Bonnie Tyler and Engelbert Humperdinck put together,’ William Hill spokesman Rupert Adams said.

‘The BBC have chosen a new direction and let’s hope they prove as popular as One Direction!’

Meanwhile the UK is also 3-1 to score a top five finish on the night, while the dreaded ‘nul points’ appears to be a very distant possibility this year at 33-1.

Molly was chosen for the contest – which takes place on May 10 in Copenhagen – via the BBC’s Introducing website for unsigned musicians, with executive producer Guy Freeman explaining in a recent blog post that the BBC had taken an new approach to finding an act this year.

‘We took the view that we needed a bespoke, contemporary song, written specifically to suit the conditions of the competition – rather than trying to get lucky with a pre-existing track from an artist,’ he said.

Meanwhile Molly has revealed that she did initially have reservations about entering the competition, which the UK has not won since 1997 – but soon changed her mind when she realised what the BBC had in mind.

‘When I heard what they wanted to do this year and they wanted something more credible and to be all about the song, and that they were interested in me as a songwriter, I thought well if we can achieve what we want to achieve that’ll be brilliant,’ she said on BBC Breakfast.

The 26-year-old added: ‘I didn’t realise how big it was until I’d signed up, I’m used to playing to crowds but not however many hundred million watch Eurovision.’